Cobalt Company News Directory

Formation Metals Releases Letter to Shareholders

Formation Metals Inc. (TSX:FCO) provided shareholders with a year-end summary of developments, and plans for moving forward. A Preliminary Economic Assessment (PEA) on the Idaho Cobalt Project in Idaho is expected the the coming weeks, with the company anticipating that, "this report will demonstrate that the ICP has the potential to produce battery grade cobalt chemicals." Formation also reports a healthy cash position and no debt, "we have sufficient working capital to fund planned operations based on our current budget. In addition, the ICP's mine and mill site have been diligently maintained to ensure that the requirements of all the permitting agencies have been met and all necessary permits remain in good standing."

Global Cobalt Settles Debt

Global Cobalt Corp. (TSXV:GCO,OTCBB:GLBCF,FRA:3P0) reported the issuance of shares for debt settlements with certain creditors, three of whom are directors and/or officers of the Company. The Company issued 1,047,300 common shares at a price of $0.05 per share.

Formation Metals to Complete PEA Regarding Battery Grade Cobalt Chemicals

Formation Metals Inc. (TSX:FCO) reported that it is moving forward with pursuing several opportunities resulting from the significant increase in the long term demand for cobalt used in rechargeable batteries. So far, the company has conducted internal studies to determine the viability of producing battery grade cobalt chemicals, developed a new mine plan and produced updated economics for its Idaho project.